India’s Supreme Court Upholds Insolvency Proceedings Against GSTAAD Hotels
The court also upheld proceedings against GSTAAD Hotels’ arm Neo Capricorn Plaza, clearing the way for Shree Naman Developers to implement its approved 1,800-crore resolution plan for both companies.
The Supreme Court on Thursday upheld insolvency proceedings against GSTAAD Hotels, owned by the Deepak B Raheja Group, and its subsidiary Neo Capricorn Plaza. The ruling paves the way for Shree Naman Developers to implement its approved 1800-crore resolution plan for the two debt-ridden companies.